Helmerich & Payne, Inc. (New York Stock Exchange: HP – Get a rating) – Capital One Financial investment analysts raised their third-quarter 2022 EPS estimates for Helmerich & Payne shares in a note to investors on Wednesday, April 27. Capital One Financial analyst L. Lemoine now expects the oil and gas company to post earnings of $0.09 per share for the quarter, up from its previous estimate of (0. $08). Capital One Financial also released estimates for Helmerich & Payne Q4 2022 earnings at $0.30 EPS, Q1 2023 earnings at $0.52 EPS, Q2 2023 earnings at $0.72 EPS , Q3 2023 earnings at $1.09 EPS, Q4 2023 earnings at $1.32 EPS and FY2023 earnings at $3.65 EPS.
Helmerich and Payne (New York Stock Exchange: HP – Get a rating) last released its quarterly earnings data on Wednesday, April 27. The oil and gas company reported ($0.17) earnings per share for the quarter, beating Thomson Reuters consensus estimate of ($0.32) by $0.15. Helmerich & Payne had a negative return on equity of 8.10% and a negative net margin of 22.22%. The company posted revenue of $467.60 million for the quarter, versus a consensus estimate of $449.63 million. During the same quarter last year, the company posted EPS of ($0.60). Helmerich & Payne’s revenue for the quarter increased 57.9% year-over-year.
Several other research analysts have also recently commented on HP. Morgan Stanley raised its price target on Helmerich & Payne from $29.00 to $40.00 and gave the stock an “underweight” rating in a Monday, April 11 report. Piper Sandler raised its price target on Helmerich & Payne from $32.00 to $44.00 and gave the stock a “neutral” rating in a Wednesday, April 13 research report. Benchmark began covering Helmerich & Payne in a research report on Monday, April 11. They issued a “buy” rating and a price target of $53.00 for the company. Goldman Sachs Group raised its price target on Helmerich & Payne from $36.50 to $41.00 and gave the stock a “sell” rating in a Thursday, April 14 research report. Finally, TheStreet upgraded Helmerich & Payne from a “d+” rating to a “c-” rating in a Monday, February 7 research report. Two analysts have assigned the stock a sell rating, eight have assigned a hold rating and six have assigned the stock a buy rating. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.55.
NYSE HP opened at $47.29 on Friday. The company has a market capitalization of $4.99 billion, a price-earnings ratio of -16.48 and a beta of 1.94. Helmerich & Payne has a 12-month low of $20.93 and a 12-month high of $50.50. The company’s 50-day moving average is $42.21 and its 200-day moving average is $33.47. The company has a quick ratio of 2.17, a current ratio of 2.39 and a leverage ratio of 0.20.
A number of hedge funds and other institutional investors have been buying and selling HP shares recently. FMR LLC increased its stake in Helmerich & Payne shares by 30.7% in the first quarter. FMR LLC now owns 308,156 shares of the oil and gas company worth $17,121,000 after purchasing an additional 72,343 shares in the last quarter. Amundi Pioneer Asset Management Inc. strengthened its position in Helmerich & Payne by 9.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 92,738 shares of the oil and gas company valued at $5,153,000 after acquiring 8,308 additional shares last quarter. Morgan Stanley increased its position in Helmerich & Payne by 44.9% in the second quarter. Morgan Stanley now owns 536,993 shares of the oil and gas company valued at $17,521,000 after acquiring an additional 166,298 shares last quarter. SG Americas Securities LLC acquired a new stake in Helmerich & Payne during Q3 valued at approximately $262,000. Finally, Cambridge Investment Research Advisors Inc. increased its holding in Helmerich & Payne shares by 10.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,285 shares of the oil and gas company valued at $227,000 after buying 755 additional shares in the last quarter. Institutional investors and hedge funds hold 86.79% of the company’s shares.
In related news, director Hans Helmerich sold 150,000 shares in a trade on Thursday, March 10. The stock was sold at an average price of $42.54, for a total value of $6,381,000.00. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Additionally, CAO Sara Marie Momper sold 2,000 shares in a trade on Tuesday, March 1. The shares were sold at an average price of $37.47, for a total value of $74,940.00. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 161,000 shares of the company worth $6,793,440. Insiders own 4.35% of the shares of the company.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 27. Shareholders of record on Friday, May 13 will receive a dividend of $0.25 per share. The ex-dividend date is Thursday, May 12. This represents an annualized dividend of $1.00 and a dividend yield of 2.11%. Helmerich & Payne’s payout ratio is currently -34.84%.
Helmerich & Payne Company Profile (Get a rating)
Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to providing industry-leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, security and innovation to deliver superior results for its customers and returns for shareholders.
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